Now, whether it is to cash out and sell the shares in their hands at a high price, or to exchange equity with Jiangdu Entertainment and become a small shareholder of Jiangdu Entertainment, it is actually what they hope for.
Only Luo Renkun, the director of the artist department who had co-founded Tianfeng Entertainment with him and sat next to him, saw Xu Tianfeng's distress and comforted him, "Old Xu, this may not be a bad thing after all."
"Many artists and songwriters are about to sign contracts, but they're holding off. Frankly, they're waiting to see if there are better alternatives. At least after the equity swap with Jiangdu Entertainment, while your say might not be as strong as before, Tianfeng Entertainment should see even greater growth."
"Jiangdu Entertainment has also proposed a number of follow-up investments, all targeting new artists. We haven't invested enough in new artists lately, making it difficult to sign talented newcomers. With them joining us, we'll not only be able to retain more veteran artists, but also recruit more fresh talent. They've also made it clear that the two companies will be managed independently."
"I know, Lao Luo." Xu Tianfeng forced a smile, then looked at the shareholders present and said, "It seems that everyone basically agrees with Jiangdu Entertainment's acquisition. Let's do it then. However, I hope that for the sake of our long-term cooperation, those who are willing to sell their shares can give them to me first. I will offer the same price as Jiangdu Entertainment."
This is Xu Tianfeng's last struggle. He hopes to retain more shares of Tianfeng Entertainment, otherwise he is afraid that the company's name will have to be changed soon.
Since no one has any objections, the natural thing to do is to notify Jiangdu Entertainment, and then both sides will send professionals to negotiate. There are many details that still need to be finalized and confirmed.
But these had nothing to do with Wen Feifei. She brought a director of the artist department to the reception room.
Yan Zi had been waiting here for a long time and was looking at his phone inside. When he saw Wen Feifei come in, he quickly stood up and prepared to salute.
"Sit down, sit down. You're welcome. We'll all be colleagues after we sign the contract." Wen Feifei patted Yan Zi's shoulder, sat down next to her, and said, "I've kept you waiting for so long because something big happened in the company. Well, I won't hide it from you. There's nothing to hide. I'll send the news out soon. The company has now agreed to be acquired by Jiangdu Entertainment."
Tianfeng Entertainment has now released this news. Generally speaking, this is good news that can boost the stock price, and shareholders who are willing to sell their shares will also make more money.
"Acquired?" Yan Zi didn't expect such a thing to happen and was still quite shocked.
"Don't worry, it won't affect your contract, and it should be a good thing for you. After the acquisition, there will be more resources, and Jiangdu Entertainment will increase its investment in our new artists. This will actually be more beneficial to your development."
After everything was made clear, the head of the artist department showed Yan Zi their new artist contract, and there was also an accompanying lawyer who explained the contents of the contract item by item.
However, Tianfeng was not prepared to cheat her as a small artist, and offered her a most ordinary new artist contract with a six-year contract period.
Entertainment companies now generally sign new artists for this number of years. After all, early-stage artists don't have any established works, so getting them resources and other resources is a huge investment. It's generally only in the third year that they start to slowly start bringing in revenue for the company.
In terms of profit sharing, the first year with Tianfeng Entertainment was 70/30: the company got 70% and the individual got 30%. In fact, most artists rarely have any productions or income in their first year, so the first year is really tough.
Starting from the second year, the company will take 50% less each year, and the artist will take 50% more. This means that in the second year, Yan Zi can take 35%, in the third year, 40%, and by the last year of the contract, he can take 55%.
The company also promised to release a single for Yan Zi in the first year, and then it would depend on the market response. If the market response is good, then subsequent resources will naturally follow. If the market response is not good, then you will have to wait for more opportunities, which depends on the ability and dedication of the agent assigned to you by the company.
After reading the entire contract, there was indeed no problem. Yan Zi was still a little excited when he signed it.
After she finished signing, the head of the artist department left first. Wen Feifei reached out and shook her hand: "Welcome, Yan Zi, from now on we are colleagues."
"Thank you, Sister Feifei. Please take care of me in the future."
"Haha, I hired you, so it's all my responsibility. But you know there's been a lot of changes at the company lately, so I might not have time to take care of you these next couple of days. Go back and get some rest. We'll arrange an agent and an assistant for you as soon as possible, and then we'll prepare your first album. So make sure to take good care of your voice."
"Okay, I understand, Sister Feifei."
Meanwhile, in the chairman's office on the top floor of Tianfeng Entertainment, Xu Tianfeng watched the people bustling in and out through the one-way glass. He suddenly felt exhausted. Was he really getting old? His daughter was about to graduate and return from abroad, so he might as well hand over the company to her.
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